This document provides a summary and overview of various major schools of economic thought, including:
- Austrian economics, which advocates for free markets and reducing government intervention.
- Behavioral economics, which studies human psychology and biases as they relate to money and markets.
- Classical economics, based on early economists like Adam Smith who emphasized free markets.
- Market monetarism, a revival of monetarism focused on using monetary policy to target nominal GDP.
- New classical economics, which incorporates rational expectations and microfoundations into macroeconomics.
- New Keynesian economics, the dominant school today incorporating some neoclassical and monetarist ideas into Keynesian
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
Free Market Economy - Past, Present and FutureAyman Rahman
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For better or worse, free market has been the dominant form of economic system throughout the world for the better part of the last three hundred years. Although the free market as a concept dates back to the days of Adam Smith, in practice its origins are much older.
Free markets have paved the way for global economic integration, contributing significantly to greater international trade and greater standards of living through the influence of bodies such as the WTO, World Bank and IMF. However, free markets have their fair share of opponents as well- since the late 90s, numerous anti-globalisation protests have taken place on the eve of important trade and economic summits.
What we have to figure out- "If not free market, then what?"
This presentation is a part of class project. In this presentation i am discussing the flaws/drawbacks of CAPITALISM, which is one of a economic system.
Basic Concepts of Economics: Introduction to Economics , Basic Economic Problem, Circular Flow of
Economic Activity , Adam Smith and Invisible Hand. Nature of the firm - rationale, objective of maximizing
firm value as present value of all future profits, maximizing, satisficing, optimizing, principal agent problem,
Accounting Profit and Economic Profit , Role of profit in Market System
Demand Analysis and Forecasting: Determinants of Market Demand at Firm and Industry level â
Elasticity of Demand - Market Demand Equation â Use of Multiple Regression for estimating demand â
Case study on estimating industry demand (formulating equation and solving with the aid of software
expected)
Demand and Supply: Market Equilibrium â Pricing under perfect competition, monopolistic competition,
Case study on pricing under monopolistic competition , Oligopoly - product differentiation and price
discrimination; price- output decision in multi-plant and multi-product firms.
Cost Concepts: Cost Concept, Opportunity Cost, Marginal, Incremental and Sunk Costs, Cost Volume Profit
Analysis, Breakeven Point, Case Study on marginal costs. Risk Analysis and Decision Making: Concept of
risk, Expected value computation, Risk management through Insurance, diversification, Hedging, Decision
Tree Analysis, Case Study on Decision tree Technique.
Money and Capital Markets in India: Role and Functions of Money Markets, Composition of Money
Market, Money Market Instruments , Reserve Bank of India â Functions , Regulatory Role of RBI w.r.t.
Currency, Credit and Balance of Payment, Open Market Operations. Role and Functions of Capital Markets,
Composition of Capital market, Stock Exchanges in India, Role of SEBI, understanding of stock market
quotations in financial press expected.
Public Finance Infrastructure: Familiarity with important terms/agencies/approaches/practices related to
National Income (such as GDP, PPP, Growth Rate), Foreign Trade (such as GATT, WTO) Union budget
(such as Revenue Account, Capital Account, Revenue Deficit, Fiscal Deficit, Plan and Non-plan expenditure)
is expected. Understanding of Summarize
Free Market Economy - Past, Present and FutureAyman Rahman
Â
For better or worse, free market has been the dominant form of economic system throughout the world for the better part of the last three hundred years. Although the free market as a concept dates back to the days of Adam Smith, in practice its origins are much older.
Free markets have paved the way for global economic integration, contributing significantly to greater international trade and greater standards of living through the influence of bodies such as the WTO, World Bank and IMF. However, free markets have their fair share of opponents as well- since the late 90s, numerous anti-globalisation protests have taken place on the eve of important trade and economic summits.
What we have to figure out- "If not free market, then what?"
This presentation is a part of class project. In this presentation i am discussing the flaws/drawbacks of CAPITALISM, which is one of a economic system.
Basic Concepts of Economics: Introduction to Economics , Basic Economic Problem, Circular Flow of
Economic Activity , Adam Smith and Invisible Hand. Nature of the firm - rationale, objective of maximizing
firm value as present value of all future profits, maximizing, satisficing, optimizing, principal agent problem,
Accounting Profit and Economic Profit , Role of profit in Market System
Demand Analysis and Forecasting: Determinants of Market Demand at Firm and Industry level â
Elasticity of Demand - Market Demand Equation â Use of Multiple Regression for estimating demand â
Case study on estimating industry demand (formulating equation and solving with the aid of software
expected)
Demand and Supply: Market Equilibrium â Pricing under perfect competition, monopolistic competition,
Case study on pricing under monopolistic competition , Oligopoly - product differentiation and price
discrimination; price- output decision in multi-plant and multi-product firms.
Cost Concepts: Cost Concept, Opportunity Cost, Marginal, Incremental and Sunk Costs, Cost Volume Profit
Analysis, Breakeven Point, Case Study on marginal costs. Risk Analysis and Decision Making: Concept of
risk, Expected value computation, Risk management through Insurance, diversification, Hedging, Decision
Tree Analysis, Case Study on Decision tree Technique.
Money and Capital Markets in India: Role and Functions of Money Markets, Composition of Money
Market, Money Market Instruments , Reserve Bank of India â Functions , Regulatory Role of RBI w.r.t.
Currency, Credit and Balance of Payment, Open Market Operations. Role and Functions of Capital Markets,
Composition of Capital market, Stock Exchanges in India, Role of SEBI, understanding of stock market
quotations in financial press expected.
Public Finance Infrastructure: Familiarity with important terms/agencies/approaches/practices related to
National Income (such as GDP, PPP, Growth Rate), Foreign Trade (such as GATT, WTO) Union budget
(such as Revenue Account, Capital Account, Revenue Deficit, Fiscal Deficit, Plan and Non-plan expenditure)
is expected. Understanding of Summarize
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
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Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Memorandum Of Association Constitution of Company.pptseri bangash
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www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Attending a job Interview for B1 and B2 Englsih learnersErika906060
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It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
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A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
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Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Putting the SPARK into Virtual Training.pptxCynthia Clay
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This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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A cheat sheet for understanding the different schools of economics june14
1. A Cheat Sheetfor Understandingthe DifferentSchoolsof Economics June14
https://www.pragcap.com/a-cheat-sheet-for-understanding-the-different-schools-of-economics/
CullenRoche - 06/27/2014
The guys at ZeroHedge postedthisuseful summary of the variouseconomicschools. ButIfeltlike itdidnât
go far enoughtoboth simplifyandsummarize the variousschoolsof economicssoIthoughtIâdtry to
recreate the cheatsheetas bestI couldbreakingdownwhatIthinkare the mostessential componentsof
each school. I hope youfindithelpful:
Austrian Economics
Overviewâ A âheterodoxâschool of economicsgroundedprimarilyinthe workof Mises,Hayek,Menger
and Rothbardthat advocatesthe purposeful economicdecisionsof the individual.
MissionStatementâ The free marketcan solve mostof our problemsandthe more we reduce government
or eliminate governmentthe betteroff we will all be.
General viewofthe economyâ The lessthe governmentisinvolvedinthe economythe betteritwill
perform.
How to fixthe economyâ We can fix the economybyreducinggovernmentandcentral bankinvolvement
infree marketforces.
What theylove â AustrianBusinessCycle Theory,free markets,individual freedomsandunfettered
capitalism.
What theyhate â Paul Krugman,the Federal Reserve,âKeynesiansâandanyone whoadvocatesfor
governmentinterventioninmarkets.
Notable Punditsâ PeterSchiff, RobertMurphy&TomWoods.
Famous Dead Economist Associatedwith School â LudwigvonMises,FriedrichHayek,Carl
Menger& Murray Rothbard.
Political Associations â Libertarians,conservatives,extreme conservativesandjustaboutanyone who
dislikes the government.
Preferredformof communication â Generallyaggressive promotionof anti-governmentviewsthrough
blogcommentsandconservative media.
FurtherReading:
1 â What is AustrianEconomics? â Mises.org
2- UnderstandingâAustrianâEconomics âHazlitt
3 â AustrianBusinessCycle Theory,A Brief Explanation âMahoney
4 â AustrianSchool of Economicsâ Boettke
Behavioral Economics
Overviewâ One of the newestandfastestgrowingschoolsof economics. Widelyperceivedasone of the
mostpositive recentdevelopmentsineconomics.
MissionStatementâ The bestway to understandthe workingsof the economyisbyunderstandingthe
waythe humanmindreactsand adapts to marketsandthe economy.
General viewofthe economy â The economyiscomplex,dynamicanduncertainandisbeingnavigated
by imperfectparticipants. Because of thisitcouldbe appropriate forgovernmentinterventionattimes.
2. How to fixthe economyâ Behavioralists donâtmake specificpolicyrecommendations,butgenerally
believethatwe can betterunderstandthe economyif we betterunderstandhumanpsychologyasit
pertainstomoney,marketsandthe economy.
What theylove â Prospecttheory,studyinghumanbiasesandhighlightingthe factthat weâre totallyill-
equippedtodeal withmoneyandmarkets.
What theyhate â That theirworkis oftenrejectedbymainstreameconomistsasbeingsomethingoutside
of the fieldof real economics.
Notable Punditsâ RichardThaler,RobertShiller,DanAriely &Daniel Kahneman.
Famous Dead Economist Associatedwith School â George Katona& AmosTversky.
Political Associationsâ Nodirectpolitical associations.
Preferredformof communication â Well researchedpapersandbooksprimarily. Behavioralists,not
surprisingly,tendtobe open-mindedandwell behaved.
FurtherReading:
1- ProspectTheory:AnAnalysisof DecisionunderRisk â Kahneman&Tversky
2- Behavioral Economics âThaler& Mullainathan
3 â PredictablyIrrational âAriely
Classical Economics
Overviewâ The âoriginalâschool of economics basedonthe understandingsof the âclassicsâlike Adam
Smith,DavidRicardo and JohnStuart Mill thatstressedeconomicgrowthandfreedomemphasizingfree
markets.
MissionStatementâ The âinvisiblehandâof the free marketsisall we needtoachieve equilibrium.
General viewofthe economy â Classical economistswere the emergingcapitalistsfromthe age of
feudalism. Theysawoutside interventioninthe markets(suchasregulationandgovernment) asa
disruptiontothe natural orderof markets.
How to fixthe economyâ Letthe free marketsdotheirthing.
What theylove â SayâsLaw, the conceptof the âinvisiblehandâ,laissezfairre ideasandfree markets.
What theyhate â Outside interventioninmarketsand mercantilism.
Notable Punditsâ None living.
Famous Dead Economist Associatedwith School â AdamSmith,DavidRicardo& John StuartMill.
Political Associations â Conservative.
Preferredformof communication â This school hasevolvedintothe modernneoclassical schools.
FurtherReading:
1 â The Wealthof Nations â Smith
2 â On Liberty â Mill
Market Monetarism
Overviewâ Largelyseenas a revival of traditional Monetarismutilizingthe foundationsof Milton
Friedmanâswork andgrowingextremelypopularwiththe âfreshwaterâschools.
MissionStatementâ The Central Bank can steerthe economyona glide pathto prosperitythrougha
laissezfairre approach if we implementNGDPtargeting.
3. General viewofthe economy â The economyisunlikelytoreachequilibriumwithoutapermanentNGDP
targetingrule inplace.
How to fixthe economyâ Duh,NGDP targeting.
What theylove â NGDP targeting.
What theyhate â Anyone whorejectsNGDPtargeting. Andpeoplewhoconfuse theirthinkingwith
traditional Monetaristviewscenteredaroundmonetaryaggregates,monetaryvelocityandinterestrates.
Notable Punditsâ Scott Sumner,DavidBeckworth &NickRowe.
Famous Dead Economist Associatedwith School â MiltonFriedman.
Political Associations â Libertarianandconservative.
Preferredformof communication â Scott Sumnerâsblog.
FurtherReading:
1 â Scott SumnerâsMarketMonetarismFAQ
2 â Market Monetarism, The SecondMonetaristCounterRevolution âChristensen
Marxian Economics
Overviewâ A largelydefunctschool of thoughtbasedonthe economicsof Karl Marx.
MissionStatementâ Capitalismisnotjustflawed,but likelytoscrew mostof usall if lefttoitsown devices.
General viewofthe economy â A capitalisteconomyisnotjustflawed,butnaturallyself destructiveand
therefore requiresoutside interventionandregulationtobe consistentwith prosperity. Inessence,the
capitalistclasswill obtainexceptionalpoweroverthe laborclassresultinginmassive inequalityandgeneral
hardship.
How to fixthe economyâ Intervene preemptivelytomake sure the capitalistsdonâtwreckit.
What theylove â The laborclass.
What theyhate â The capitalistclass.
Notable Punditsâ Karl Marx, Karl Marx and some guynamedKarl Marx.
Famous Dead Economist Associatedwith School â Some guynamedKarl Marx.
Political Associations â Extremistliberals.
Preferredformof communication â The darkestcornersof the internetandslowlybecomingextinctinall
othercorners.
FurtherReading:
1 â Capital:A Critique of Political Economy âMarx
Modern Monetary Theory (MMT or Chartalism)
Overviewâ A heterodox school associatedwitha branchof the Post-Keynesianschool of economics(see
below) thathasbecome verypopularonthe internetinthe last10 years.
MissionStatementâ There isno economicproblemthatfiscal policy canâtsolve.
General viewofthe economy â Capitalismisnaturallyflawedandcanonlyoperate atfull capacityif the
governmentisusedtopermanentlyfillanydemandshortagesthatexist.
How to fixthe economyâ Fiscal policyinthe formof tax cuts and spendingincreasesinadditiontothe
implementationof agovernmentJobGuarantee toemployanyone whowantsajob.
What theylove â Job guaranteesandtellingyouhow little youknow abouteconomics.
4. What theyhate â That the mainstreamwonât take themseriously.
Notable Punditsâ Warren Mosler,Randall Wrayand WilliamMitchell.
Famous Dead Economist Associatedwith School â GF Knapp,AbbaLerner& AlfredMitchell-Innes.
Political Associations â Liberals,extremistliberalsandsocialists.
Preferredformof communication â Aggressive andveryactive commentingon anyblogcommentsection
usuallyremindingthe author thatthey âjustdonâtunderstand MMTâorthe economy.
FurtherReading:
1 â Soft CurrencyEconomics â Mosler
2 â 7 DeadlyInnocentFrauds â Mosler
3 â Modern MoneyTheory â Wray
New Classical Economics
Overviewâ The NewClassical school isthe modernadaptationof the classical school (see above). Itis
basedon Walrasianassumptions,rational expectationsandarose outof the failuresof the OldKeynesian
schoolsduringthe failure of the PhillipsCurve andstagflationinthe 1970âs.
MissionStatementâ Macroeconomicsrequiresnew classical microfoundationstobe properlyutilized.
General viewofthe economy â Rational agentsare alwaysmakingoptimal decisionsandfirmsare always
maximizingprofits,butthe economyisoftenshockedbyârealâeffectslike unanticipatedpolicychanges,
changesintechnologyorchangesinraw materials.
How to fixthe economyâ NewClassical economistsare generallyassociatedwithalaissezfaire approach
to policy.
What theylove â The Lucas Critique,RicardianEquivalence,rational expectationsµfoundations.
What theyhate â The concept of âinvoluntaryunemploymentâand policystabilization.
Notable Punditsâ Edward Prescott, RobertLucas, ThomasSargentand RobertBarro.
Famous Dead Economist Associatedwith School â JohnMuth.
Political Associations â Generallyconservative,butattimesalsoappealingtonospecificpolitical party.
Preferredformof communication â Academicworkprimarily.
FurtherReading:
1 â NewClassicalsandKeynesians,orthe GoodGuysand the Bad Guys â Barro
2 â NewClassical Macroeconomics âHoover
3 â RATIONALEXPECTATIONSANDTHE THEORY OFECONOMIC POLICY â Sargent& Wallace
New Keynesian Economics
Overviewâ The NewKeynesiansare the adaptationof the OldKeynesianswhorespondedtothe criticism
of the NewClassicalsinthe 1970s and80âs by creatinganupdatedmodel of the economytohelpexplain
some of the Keynesianfailuresof the 70âs. Most of the âeconomicsâone learnstodayiscloselyrelatedto
or directlyrelatedtoNewKeynesianeconomics. Ithasbecome,bya wide margin,the dominantmodel
usedbypolicymakers. Althoughitadoptedthe termâKeynesianâinitsname the school actuallypitchesa
fairlybroadtentusingsome neoclassical foundationsaswell asMonetaristperspectives.
MissionStatementâ Althougheconomicagentsare rational we believe policymakerscanimprove
economicstabilityandhelp attainfullemploymentthroughvariousstabilizationpoliciesdesignedto
combat a varietyof marketfailures.
5. General viewofthe economy â Economicagentsare rational,butmarketsare imperfectdue to
phenomenasuchasâstickypricesâ. Thiscan resultinbroad marketfailuresleadingtorecession.
How to fixthe economyâ NewKeynesianswill generallydeviatetowardsthe use of MonetaryPolicy,but
will attimesalsorecommendfiscal policytohelpstablilize the economy. Theyhave become particularly
vocal duringthe recentrecessiondue tothe âzerolowerboundâand the ineffectivenessof monetarypolicy
therebyarguingfora fiscal approach.
What theylove â Stickyprices,rational expectations,the ZeroLowerBound,the natural rate of interest,
DSGE modeling.
What theyhate â Notmuch. Theyprettymuch dominate the populareconomicjournals,textbooksand
have the ears of policymakers. If anything,theyhate notbeingtaken evenmore seriouslythanpeople
alreadytake themandmostlyfightamongone anotherregardingtheirminordifferencesonpolicyand
politics.
Notable Punditsâ On the liberal side:Paul Krugman,BradDelong&Joe Stiglitz.Onthe conservative
side: Greg Mankiw,DavidRomer& OlivierBlanchard.
Famous Dead Economist Associatedwith School â JMKeynes althoughitshouldbe notedthatNew
Keynesianeconomicshasactuallydeviated substantiallyfromthe original workof Keynesandhas
incorporatedagood deal of bothMonetaristand neoclassical conceptswhichKeyneswouldhave rejected.
Political Associations â Thistentisbroad withbothconservative andliberal economists.
Preferredformof communication â Academicresearchandseveral popularblogssuchas Paul Krugmanâs
NY TimesblogandGreg Mankiwâsblog. These economistsalsodominate the textbookarena.
FurtherReading:
1 â What is NewKeynesianEconomics? â Gordon
2 â NewKeynesianEconomics âMankiw
Post-Keynesian Economics
Overviewâ A branch of Keynesianeconomicsthatportendstogetback to whatthe âtrue Keynesâthought
aboutthe economyandhowto improve it.
MissionStatementâ JMKeyneshaditall right all along. Involuntaryunemploymentisthe resultof
aggregate demandshortagesresultingprimarilyfromfailuresby firmstomaximize investment.
General viewofthe economyâ Capitalismexistsonaninherentlyunstablefoundationandwillattimes
require some formsof governmentinterventiontoachieve prosperity.
How to fixthe economyâ Counter-cyclical policieswithafocusonfiscal policy.
What theylove â Rejectinglarge swathsof mainstreameconomicsandcallingoutmodernKeynesiansfor
havingmisconstruedthe worksof Keynes.
What theyhate â Thinkingthatthe mainstreamthinkstheyâreirrelevantcranks.
Notable Punditsâ Paul Davidson,TomPalley andMarc Lavoie.
Famous Dead Economist Associatedwith School â Wynne Godley, JoanRobinson andNicholasKaldor.
Political Associations â Centristsandliberals.
Preferredformof communication â Virtuallynone. The school isalmostentirelyunrepresentedbya
prominentmainstreamvoice andislargelyshutoutof the prominentacademicjournals.
FurtherReading:
1 â Monetary Economics â Lavoie & Godley